Fund Overview Fund Overview Call Us Advisors: 800.368.4410 Investors: 800.548.4539 Share Class N N I Z NAV | as of 03/18/2024 $13.86 +$0.02 (+0.14%) Morningstar | Style Box V B G L M S Growth of $10,000 (Hypothetical) Since Inception 11/03/2015 to 02/29/2024 = $18,971.35 From: To: 3YR 5YR 10YR INCEP. INCEP. 3YR 5YR 10YR INCEP. SEE ALL PERFORMANCE The performance data shown represents past performance. Past performance is not a guarantee of future results. Current performance may be lower or higher than the performance data quoted. The investment return and the principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. For performance information through the most recent month-end please call 800.548.4539. From time to time, the advisor has waived fees or reimbursed expenses, which may have resulted in higher returns. The listed returns and yields of the Fund are net of expenses, and the returns and yields of the indices exclude expenses. For time periods where the fund inception date preceded the benchmark, the benchmark data will not be shown. Read Important Investment Disclosures Objective Seeks to provide long-term capital appreciation by investing in a concentrated all cap portfolio of securities. Why Consider May be appropriate for investors looking to gain exposure to a portfolio of U.S. and non-U.S. companies that may invest in securities of all market capitalizations Enlightened risk management—portfolio managers will not average down on losing positions Employs a fundamentals-driven Absolute Value® investment philosophy, targeting a concentrated, all-cap Fund portfolio of securities representing River Road’s “best ideas” across their core strategies Documents Fact Sheet Commentary Summary Prospectus Prospectus 2023 Distributions View All Documents Investment Style River Road Focused Absolute Value Fund has an Equity Income Objective, seeking to achieve income and capital appreciation. Large Mid Small Value Blend Growth Equity Objective River Road Focused Absolute Value Fund is categorized as Mid-Value. It invests in medium-cap companies with low risk. Morningstar Ratings Risk-adjusted returns as of 02/29/2024 Overall Rating (of 385) 3 Years (of 385) 5 Years (of 359) 10 Years — Category Mid-Cap Blend Read Important Investment Disclosures R. Andrew Beck CHIEF EXECUTIVE OFFICER, SENIOR PORTFOLIO MANAGER Andrew is a co-founder of River Road and is responsible for formulating and driving the firm’s overall business strategy as Chief Executive Officer. He is also directly engaged with several key strategies, serving as Senior Portfolio manager for River Road’s Small Cap Value and Small-Mid Cap Value strategies, a portfolio manager for the Mid Cap Value Portfolio, and a supervising portfolio manager for the Focused Absolute Value® portfolios. Andrew earned his BS in Finance at the University of Louisville and MBA at Babson College, and served as Senior Research Analyst, Senior Vice President, and Portfolio Manager and SMC Capital Inc. He has been with River Road since its inception in 2005 and holds equity in the firm. J. Alex Brown CHIEF INVESTMENT OFFICER As Chief Investment Officer, Alex leads the research and data management functions and ensures that the firm’s various strategies align with its overall investment philosophy. He also serves as supervising portfolio manager for River Road’s Focused Absolute Value® portfolios and previously served as the firm’s Director of Research. His previous experience includes positions with Wachovia Banking and the US Air Force. He is a non-voting member of the Executive Committee and a member of the Investment Oversight Committee. Alex holds an MBA from Harvard Business School and BA in Operations Research from the United States Air Force Academy. Alex joined River Road in 2010 and holds equity in the firm. Ashley Abney, CPA ASSOCIATE PORTFOLIO MANAGER, DERIVED STRATEGIES As Associate Portfolio Manager for River Road’s Focused Absolute Value® portfolios, Ashley is responsible for operational and trading activities while working with supervising portfolio managers to manage client communications. She also maintains select analyst responsibilities and serves as analyst support for other strategies at the firm. Ashley earned her BS in Economics at Centre College, holds a CPA designation and is a member of the Kentucky Society of CPAs. She joined River Road in 2006 after previous experience at Associated Insurance Services and holds equity in the firm. Performance Performance Read Important Investment Disclosures Returns Trailing Returns Trailing Returns Monthly Quarterly Calendar Year Returns The performance data shown represents past performance. Past performance is not a guarantee of future results. Current performance may be lower or higher than the performance data quoted. The investment return and the principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. For performance information through the most recent month-end please call 800.548.4539. From time to time, the advisor has waived fees or reimbursed expenses, which may have resulted in higher returns. The listed returns and yields of the Fund are net of expenses, and the returns and yields of the indices exclude expenses. For time periods where the fund inception date preceded the benchmark, the benchmark data will not be shown. Returns for periods shorter than one year are not annualized. Expense Ratios Gross Expense Ratio: 1.22% Net Expense Ratio: 1.06% Expense Cap Expiration Date: 03/01/2025 Distributions & Pricing Distributions Distributions Chart List Historical Pricing Calendar Year Distributions Ex-Date Total Distribution Income Short-term Cap Gains Long-term Cap Gains Dec 14, 2023 $0.323400 $0.131500 $0.064300 $0.127600 Dec 15, 2022 $0.087400 $0.017100 — $0.070300 Dec 15, 2021 $0.953300 — — $0.953300 Dec 16, 2019 $0.243400 $0.015200 $0.077200 $0.151000 Dec 27, 2018 $0.758900 $0.054700 $0.529400 $0.174800 Dec 27, 2017 $0.938500 $0.067600 $0.442700 $0.428200 Dec 27, 2016 $0.818600 $0.086300 $0.693600 $0.038700 From: To: Risk & Return Statistics As of: 02/29/2024 3YR 5YR 10YR Alpha Alpha is a measure of performance on a risk-adjusted basis. Alpha takes the volatility (price risk) of a security or mutual fund and compares its risk-adjusted performance to a benchmark index. The excess return of the security or fund relative to the return of the benchmark index is a fund's alpha. -3.78 -3.37 - Standard Deviation Standard Deviation is a measure of the dispersion of a set of data from its mean. The more spread apart the data, the higher the deviation. Standard deviation is calculated as the square root of variance. 17.42 19.53 - Sharpe Ratio Sharpe Ratio is a risk-adjusted measure developed by William Sharpe. It is calculated using standard deviation and excess return to determine reward per unit of risk. First, the average monthly return of the 90-day Treasury bill (over a 36-month period) is subtracted from the portfolio's average monthly return. The difference in total return represents the portfolio's excess return beyond that of the 90-day Treasury bill, a risk-free investment. An arithmetic annualized excess return is then calculated by multiplying this monthly return by 12. To show a relationship between excess return and risk, this number is then divided by the standard deviation of the portfolio's annualized excess returns. The higher the Sharpe ratio, the better the portfolio's historical risk-adjusted performance. 0.08 0.18 - Upside Capture Ratio (%) Upside Capture Ratio (%) is a measure of a manager's performance in up markets relative to a particular benchmark. An up market is one in which the market's quarterly (or monthly) return is greater than or equal to zero. For example, a ratio of 50% means that the portfolio's value increased half as much as its benchmark index during up markets. 89.52 91.51 - Downside Capture Ratio (%) Downside Capture Ratio (%) measures a manager's performance in down markets relative to a particular benchmark. A down market is one in which the market's quarterly (or monthly) return is less than zero. For example, a ratio of 50% means that the portfolio's value fell half as much as its benchmark index during down markets. 105.86 105.01 - Beta Beta measures the relationship between the portfolio's excess return over T-bills (representing a risk-free rate) relative to the excess return of the portfolio's benchmark. A low beta does not imply that the portfolio has a low level of volatility; rather, a low beta means that the portfolio's market-related risk is low. Beta is often referred to as systematic risk. 1.02 1.01 - R-Squared R-Squared ranges from 0 to 100 and reflects the percentage of a portfolio's movements that are explained by movements in its benchmark index. A portfolio with an R-squared of 100 means that all movement is completely explained by benchmark index movement. Thus, a portfolio that invests only in S&P 500 stocks will have an R-squared very close to 100. Conversely, a low R-squared indicates that very little of the portfolio's movement is explained by benchmark movement. An R-squared measure of 35, for example, means that movements in its benchmark index can explain only 35% of the portfolio's movements. R-squared is used to ascertain the significance of a particular beta or alpha and generally a higher R-squared will indicate more useful alpha and beta figures. 92.89 94.75 - Tracking Error (%) Tracking Error (%) , which is often referred to as the active risk of the portfolio, measures how closely a manager's returns track the returns of a benchmark index. Specifically, tracking error measures the standard deviation of the excess returns a portfolio generates compared to its benchmark. This gives an indication of the volatility of a portfolio versus its benchmark. If a manager tracks a benchmark closely, then tracking error will be low. If a manager tracks a benchmark perfectly, then tracking error will be zero. 4.66 4.48 - View All Characteristics & Statistics All Characteristics & Statistics River Road Focused Absolute Value Fund (ARRFX) Portfolio Characteristics (Equity) Risk & Return Market Cap Valuation Characteristics Growth Characteristics Fund Holdings Fund Russell 3000® Value Index Fund Assets (Mil.$) $51 Number of Holdings 30 2,279 Weighted Avg. Market Cap (Mil.$) $87,701 $131,057 Median Market Cap (Mil.$) $19,357 $2,168 Weighted Avg. P/E (1-yr Forward EPS) 12.42 15.66 Weighted Avg. P/E (Trailing EPS) 13.70 16.50 PEG Ratio 1.47 1.70 Weighted Avg. P/B 2.14 2.21 EPS Growth (Trailing 3-yr %) 17.79% 12.12% EPS Growth (Trailing 5-yr %) 9.43% 11.55% Forward EPS Growth (1-yr %) 3.59% -2.62% Forward EPS Growth (Long Term %) 7.86% 7.66% Revenue Growth (Trailing 5-yr %) 8.65% 7.42% Return on Equity 17.64% 15.37% Weighted Avg. Dividend Yield 1.85% 2.26% Debt to Equity 115.32 94.60 Trailing 12-Months Portfolio Turnover 66.42% As of: 12/31/2023 Risk & Return 3 Years 5 Years 10 Years Alpha Alpha is a measure of performance on a risk-adjusted basis. Alpha takes the volatility (price risk) of a security or mutual fund and compares its risk-adjusted performance to a benchmark index. The excess return of the security or fund relative to the return of the benchmark index is a fund's alpha. -3.78 -3.37 - Standard Deviation Standard Deviation is a measure of the dispersion of a set of data from its mean. The more spread apart the data, the higher the deviation. Standard deviation is calculated as the square root of variance. 17.42 19.53 - Sharpe Ratio Sharpe Ratio is a risk-adjusted measure developed by William Sharpe. It is calculated using standard deviation and excess return to determine reward per unit of risk. First, the average monthly return of the 90-day Treasury bill (over a 36-month period) is subtracted from the portfolio's average monthly return. The difference in total return represents the portfolio's excess return beyond that of the 90-day Treasury bill, a risk-free investment. An arithmetic annualized excess return is then calculated by multiplying this monthly return by 12. To show a relationship between excess return and risk, this number is then divided by the standard deviation of the portfolio's annualized excess returns. The higher the Sharpe ratio, the better the portfolio's historical risk-adjusted performance. 0.08 0.18 - Upside Capture Ratio (%) Upside Capture Ratio (%) is a measure of a manager's performance in up markets relative to a particular benchmark. An up market is one in which the market's quarterly (or monthly) return is greater than or equal to zero. For example, a ratio of 50% means that the portfolio's value increased half as much as its benchmark index during up markets. 89.52 91.51 - Downside Capture Ratio (%) Downside Capture Ratio (%) measures a manager's performance in down markets relative to a particular benchmark. A down market is one in which the market's quarterly (or monthly) return is less than zero. For example, a ratio of 50% means that the portfolio's value fell half as much as its benchmark index during down markets. 105.86 105.01 - Beta Beta measures the relationship between the portfolio's excess return over T-bills (representing a risk-free rate) relative to the excess return of the portfolio's benchmark. A low beta does not imply that the portfolio has a low level of volatility; rather, a low beta means that the portfolio's market-related risk is low. Beta is often referred to as systematic risk. 1.02 1.01 - R-Squared R-Squared ranges from 0 to 100 and reflects the percentage of a portfolio's movements that are explained by movements in its benchmark index. A portfolio with an R-squared of 100 means that all movement is completely explained by benchmark index movement. Thus, a portfolio that invests only in S&P 500 stocks will have an R-squared very close to 100. Conversely, a low R-squared indicates that very little of the portfolio's movement is explained by benchmark movement. An R-squared measure of 35, for example, means that movements in its benchmark index can explain only 35% of the portfolio's movements. R-squared is used to ascertain the significance of a particular beta or alpha and generally a higher R-squared will indicate more useful alpha and beta figures. 92.89 94.75 - Tracking Error (%) Tracking Error (%) , which is often referred to as the active risk of the portfolio, measures how closely a manager's returns track the returns of a benchmark index. Specifically, tracking error measures the standard deviation of the excess returns a portfolio generates compared to its benchmark. This gives an indication of the volatility of a portfolio versus its benchmark. If a manager tracks a benchmark closely, then tracking error will be low. If a manager tracks a benchmark perfectly, then tracking error will be zero. 4.66 4.48 - Information Ratio Information Ratio s a ratio of portfolio returns above the returns of a benchmark (usually an index) to the volatility of those returns. The information ratio (IR) measures a portfolio manager's ability to generate excess returns relative to a benchmark, but also attempts to identify the consistency of the investor. This ratio will identify if a manager has beaten the benchmark by a lot in a few months or a little every month. The higher the IR, the more consistent a manager is, and consistency is an ideal trait. -0.87 -0.83 - Treynor Ratio (%) Treynor Ratio (%) , which was developed by Jack Treynor, measures reward per unit of beta risk. It measures returns earned in excess of that which could have been earned on a less risk investment per each unit of market risk. The Treynor Ratio relates the difference between the portfolio return and the risk-free rate to the portfolio beta for a given time period. 1.41 3.44 - Max Drawdown Max Drawdown is the maximum loss from a peak to a trough of a portfolio, before a new peak is attained. Maximum Drawdown is an indicator of downside risk over a specified time period. -26.08 -30.17 - As of: 02/29/2024 Market Cap Fund Russell 3000® Value Index Market Cap ($mm) 0 - 1,000 0.00% 1.16% Market Cap ($mm) 1,000 - 1,500 1.59% 0.66% Market Cap ($mm) 1,500 - 2,500 0.00% 1.44% Market Cap ($mm) 2,500 - 5,000 11.00% 3.64% Market Cap ($mm) 5,000 - 10,000 19.70% 6.74% Market Cap ($mm) 10,000 - 25,000 28.16% 14.16% Market Cap ($mm) 25,000 - 50,000 18.91% 16.28% Market Cap ($mm) 50,000 - 100,000 2.68% 15.00% Market Cap ($mm) 100,000 - 200,000 10.86% 20.94% Market Cap ($mm) 200,000 - 7.11% 19.98% Market Cap – NA 0.00% 0.00% As of: 12/31/2023 Valuation Characteristics Fund Russell 3000® Value Index P/E 0-10 11.76% 12.40% P/E 10-15 26.07% 20.11% P/E 15-20 37.19% 13.97% P/E 20-25 0.00% 11.14% P/E 25-Above 24.98% 36.05% P/E – NA 0.00% 6.33% As of: 12/31/2023 Growth Characteristics Fund Russell 3000® Value Index EPS Growth (Trailing 3-yr %) - Negative 30.08% 20.55% EPS Growth (Trailing 3-yr %) 0 - 5 4.06% 10.36% EPS Growth (Trailing 3-yr %) 5 - 10 4.22% 8.86% EPS Growth (Trailing 3-yr %) 10 - 15 4.43% 7.84% EPS Growth (Trailing 3-yr %) 15 - 20 6.52% 9.20% EPS Growth (Trailing 3-yr %) Above 20 41.81% 32.84% EPS Growth (Trailing 3-yr %) - NA 8.88% 10.35% As of: 12/31/2023 Read Important Investment Disclosures Portfolio & Holdings Portfolio & Holdings Top Holdings (Equity) As of: 12/31/2023 Berkshire Hathaway Inc, Class B 7.05% Fairfax Financial Holdings Ltd 6.47% CRH Plc 5.36% WEX Inc 4.50% BJ's Wholesale Club Holdings Inc 4.40% Kroger Co 4.37% LKQ Corp 4.09% Comcast Corp, Class A 4.03% Global Payments Inc 3.73% Patterson Cos Inc 3.67% % in Top 10 Holdings 47.66% View Holding Details Holding Details River Road Focused Absolute Value Fund (ARRFX) Top 10 Holdings (Equity) All Holdings 10 Best Performing Stocks 10 Worst Performing Stocks Fund Holdings 12/31/2023 Berkshire Hathaway Inc, Class B 7.05% Fairfax Financial Holdings Ltd 6.47% CRH Plc 5.36% WEX Inc 4.50% BJ's Wholesale Club Holdings Inc 4.40% Kroger Co 4.37% LKQ Corp 4.09% Comcast Corp, Class A 4.03% Global Payments Inc 3.73% Patterson Cos Inc 3.67% % in Top 10 Holdings 47.66% As of: 12/31/2023 Download All Holdings (PDF) As of: 02/29/2024 Ticker Name Sector Asset Class Country Currency Par/Shares Price ($) Market Value ($) % of Fund BRK/B Berkshire Hathaway Inc, Class B Financials S US USD 9,125 409.40 $3,735,775 7.62% FRFHF Fairfax Financial Holdings Ltd Financials S CA USD 3,278 1,064.77 $3,490,316 7.12% CRH CRH Plc Materials S IE USD 31,027 84.31 $2,615,886 5.34% KR Kroger Co Consumer Staples S US USD 44,086 49.61 $2,187,106 4.46% BJ BJ's Wholesale Club Holdings Inc Consumer Staples S US USD 29,301 73.04 $2,140,145 4.37% WEX WEX Inc Financials S US USD 9,406 219.73 $2,066,780 4.22% LKQ LKQ Corp Consumer Discretionary S US USD 38,627 52.29 $2,019,806 4.12% ELV Elevance Health Inc Health Care S US USD 3,860 501.25 $1,934,825 3.95% CMCSA Comcast Corp, Class A Communication Services S US USD 40,714 42.85 $1,744,595 3.56% ATKR Atkore Inc Industrials S US USD 9,807 169.40 $1,661,306 3.39% GPC Genuine Parts Co Consumer Discretionary S US USD 11,118 149.26 $1,659,473 3.39% PDCO Patterson Cos Inc Health Care S US USD 59,660 27.09 $1,616,189 3.30% TAP Molson Coors Beverage Co, Class B Consumer Staples S US USD 24,792 62.42 $1,547,517 3.16% EXPE Expedia Group Inc Consumer Discretionary S US USD 11,032 136.82 $1,509,398 3.08% DK Delek US Holdings Inc Energy S US USD 53,023 25.51 $1,352,617 2.76% NWE Northwestern Energy Group Inc Utilities S US USD 27,495 47.92 $1,317,560 2.69% PNM PNM Resources Inc Utilities S US USD 36,071 36.51 $1,316,952 2.69% TGT Target Corp Consumer Staples S US USD 8,603 152.92 $1,315,571 2.69% GPN Global Payments Inc Financials S US USD 10,021 129.70 $1,299,724 2.65% LH Laboratory Corp of America Holdings Health Care S US USD 5,967 215.83 $1,287,858 2.63% WCC WESCO International Inc Industrials S US USD 8,322 149.49 $1,244,056 2.54% SNX TD SYNNEX Corp Information Technology S US USD 11,680 103.90 $1,213,552 2.48% GLW Corning Inc Information Technology S US USD 37,195 32.24 $1,199,167 2.45% DNB Dun & Bradstreet Holdings Inc Industrials S US USD 113,513 10.54 $1,196,427 2.44% WMB Williams Cos Inc Energy S US USD 31,442 35.94 $1,130,025 2.31% UL Unilever PLC ADR Consumer Staples S GB USD 22,612 48.97 $1,107,310 2.26% UPS United Parcel Service Inc, Class B Industrials S US USD 7,359 148.26 $1,091,045 2.23% WTW Willis Towers Watson PLC Financials S GB USD 3,706 272.61 $1,010,293 2.06% MUSA Murphy USA Inc Consumer Discretionary S US USD 2,368 417.01 $987,480 2.02% ATSG Air Transport Services Group Inc Industrials S US USD 20,093 12.07 $242,523 0.49% Cash & Equivalents Cash C US USD - - $754,841 1.54% Download Fund Commentary (PDF) Fund Holdings Sort order Avg. Weight Total Return Expedia Group Inc 1 3.01% 47.27% CRH Plc 2 4.49% 28.98% Armstrong World Industries Inc 3 3.39% 36.90% Fairfax Financial Holdings Ltd 4 6.79% 12.43% Fiserv Inc 5 3.83% 17.17% Target Corp 6 2.41% 29.70% Atkore Inc 7 0.82% 25.34% QUALCOMM Inc 8 1.76% 28.82% Vistra Corp 9 2.96% 16.55% Willis Towers Watson PLC 10 2.76% 15.73% As of: 12/31/2023 The 10 Best and Worst Performing Stocks are determined based on the stock's contribution to the Fund’s return during the specified quarter. Download Fund Commentary (PDF) Fund Holdings Sort order Avg. Weight Total Return AES Corp 20 0.26% -11.91% Air Transport Services Group Inc 19 1.70% -15.62% BJ's Wholesale Club Holdings Inc 18 4.53% -6.60% LKQ Corp 17 4.19% -3.03% Advance Auto Parts Inc 16 0.94% -9.70% Patterson Cos Inc 15 3.53% -3.44% SM Energy Co 14 2.37% -2.10% Comcast Corp, Class A 13 4.13% -0.64% US Bancorp 12 0.27% -1.66% Unilever PLC ADR 11 2.76% -0.94% As of: 12/31/2023 The 10 Best and Worst Performing Stocks are determined based on the stock's contribution to the Fund’s return during the specified quarter. Read Important Investment Disclosures Read Important Investment Disclosures Sector Allocation (Equity) As of: 12/31/2023 View Allocation Details Allocation Details River Road Focused Absolute Value Fund (ARRFX) Sector Allocation (Equity) Investment Allocation Top 10 Industries Sector Sort Order Fund Russell 3000® Value Index Financials 24.38% 22.14% Consumer Staples 17.35% 7.52% Industrials 12.87% 13.87% Consumer Discretionary 11.68% 5.50% Health Care 8.18% 14.25% Materials 5.36% 4.85% Information Technology 5.34% 9.33% Energy 5.09% 7.84% Utilities 4.96% 4.77% Communication Services 4.03% 4.55% Cash & Other 0.76% 0.00% Real Estate 0.00% 5.37% As of: 12/31/2023 Investment Allocation 12/31/2023 Stocks 99.24% Bonds 0.00% Cash and Other 0.76% As of: 12/31/2023 Industry Fund Russell 3000® Value Index Financial Services 15.28% 4.21% Consumer Staples Distribution & Retail 11.42% 1.64% Insurance 9.10% 3.78% Distributors 7.44% 0.15% Health Care Providers & Services 6.61% 2.93% Construction Materials 5.36% 0.30% Electronic Equipment, Instruments & Components 5.34% 0.93% Oil, Gas & Consumable Fuels 5.09% 7.02% Air Freight & Logistics 4.13% 0.79% Media 4.03% 1.32% % in Top 10 Industries 73.8% 23.07% As of: 12/31/2023 Read Important Investment Disclosures About the Affiliate About River Road Asset Management River Road Asset Management was established in 2005 and provides institutional separate account and investment sub-advisory services to a broad range of domestic and international clients. The firm was founded upon a proprietary Absolute Value® investment discipline. This approach was developed by River Road’s founders and occupies a distinct niche within value investing styles. Learn More About River Road Asset Management's Approach FOUNDED 2005 AMG AFFILIATE SINCE 2014 HEADQUARTERS Louisville, KY Portfolio Managers R. Andrew Beck CHIEF EXECUTIVE OFFICER, SENIOR PORTFOLIO MANAGER Read full bio J. Alex Brown CHIEF INVESTMENT OFFICER Read full bio Ashley Abney, CPA ASSOCIATE PORTFOLIO MANAGER, DERIVED STRATEGIES Read full bio Investment Approach Investment Approach River Road Focused Absolute Value Fund A relatively concentrated portfolio of River Road’s best core ideas, the Fund is comprised of equity securities of U.S. and non-U.S. companies of all market capitalizations. The Fund’s Absolute Value® approach utilizes systematic and dynamic proprietary research to target companies exhibiting: Financial strength at attractive prices Shareholder-oriented management teams Undiscovered, under-followed, misunderstood companies with attractive business models Related products Other Products From River Road Asset Management ARDEX River Road Dividend All Cap Value Fund View Fund Details FQUAX River Road Large Cap Value Select Fund View Fund Details CHTTX River Road Mid Cap Value Fund View Fund Details ARSVX River Road Small Cap Value Fund View Fund Details ARSMX River Road Small-Mid Cap Value Fund View Fund Details Stay up-to-date Sign up to receive our latest views and thinking, in addition to other news and product-related information. CHOOSE SUBSCRIPTIONS